THE SENATE

S.B. NO.

2851

TWENTY-EIGHTH LEGISLATURE, 2016

S.D. 1

STATE OF HAWAII

 

 

 

 

 

 

A BILL FOR AN ACT

 

 

RELATING TO INSURANCE.

 

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 


     SECTION 1.  Section 431:21-119, Hawaii Revised Statutes, is amended to read as follows:

     "[[]§431:21-119[]]  Issuance of new policies; removal of moratorium.  If residential property insurance is unavailable, as determined by the commissioner, due to a moratorium on the issuance of policies on property situated in lava zones where the mayor of the county of Hawaii has issued a proclamation declaring a state of emergency exists due to the threat of imminent disaster from a lava flow, the association shall remove its moratorium.  Upon the moratorium's removal, the association shall offer new policies and may provide a waiting period of no longer than six months for the policy coverage to take effect; provided that the residential property in the lava zone does not have current insurance."

     SECTION 2.  Statutory material to be repealed is bracketed and stricken.  New statutory material is underscored.

     SECTION 3.  This Act shall take effect upon its approval.


 


 

Report Title:

Property Insurance; Hawaii Property Insurance Association; Lava Zone; State of Emergency; Moratorium; Determination of Availability of Insurance

 

Description:

Requires the Insurance Commissioner to determine whether residential property insurance is unavailable due to a moratorium on insurance policies in a lava zone during a state of emergency due to lava flow.  (SD1)

 

 

 

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